Requires employers to: (1) Pay to each of his or her tipped employees, eighteen years of age or older, wages at a rate of not less than seven dollars and twenty-five cents per hour; and

(2) Determine the average tipped wage rate for each tipped employee for the previous calendar month.

Establishes a study group to assess the effectiveness of the act.

Provides a January 1, 2024, expiration date for the study group.